Daniel Pinto, CEO of the CIB, already blew hard on J.P. Morgan's trumpet at the bank's investor day in February. In the bank's 2016 annual report, he and Jamie Dimon blew hard again. There, Pinto and Dimon suggest jobs at J.P. Morgan should be the most enduring of any bank. This is why...

Why would J.P. Morgan want to make further cost savings when its overhead ratios are already the best in class and its returns are (somehow) already better than the best in class? (See the chart below.)

Similarly, why would you want to make cuts when you've already exceeded your cost target and your returns target? (See the chart above.)

3. J.P. Morgan loves its people (and is hiring rather than firing)

And then,why would you want to make cuts when your people are very, very special. "Our people are our most important assets – and they are exceptional," says Jamie Dimon. "...We all owe them an enormous debt."

Would you dump people you refer to in those terms? Surely not.

Equally significantly, Pinto says J.P. Morgan's "global scale" and "complete platform" are part of the investment bank's strength, implying that there'll be no pulling back from either regions or business areas. Instead, Pinto says J.P.M wants to keep on investing in equities and prime services and to achieve a top three position in all "sub-product and geographical categories" in global markets. Right now, Pinto says J.P. Morgan isn't in a top three position in 31% of the markets products and regions it tracks and that the bank intends to remedy this. Whether J.P.M, will be hiring additional people here. or letting go of existing staff for upgrading remains to be seen.